![]() Software wallets are basically wallets that are installed on your computer. Dangers of importing seed into software wallet However if you are looking to import the mnemonic seed directly into electrum wallet then you must be very cautious and take proper measures.īefore we learn how to import Ledger and Trezor seed into electrum wallet here is something that you need to know. Even if the computer which you connect your device is infected with malware your keys will remain secure in the hardware wallet. Setup and use Electrum with Ledger hardware walletĬonnecting hardware wallet to Electrum does not compromise any security. If you are looking to simply connect your Ledger or Trezor with electrum then it is simple. Importing hardware wallet seed into software walletįirst of all electrum wallet has support for hardware wallets directly. Here are few points to note before you import your hardware wallets mnemonic seed into software wallets. But the thing is you must be very cautious when importing hardware wallet backup phrase into software wallet. It is known as BIP39 and there are many software wallets that has the support for BIP39.įor example you can download electrum wallet to your computer and import the recovery phrase. It will restore your wallet completely as it is.īut what if you don’t have an extra hardware wallet? As we said before hardware wallets uses the industry-standardized list of 2042 words. Instead of setting up a new wallet all you have to do is choose recover from seed option and enter the backup phrase. Likewise you can import Trezor mnemonic seed into Ledger and vice versa. In case if your hardware wallet device is stolen, lost or damaged you can use your recovery seed to regain access to all of your cryptocurrencies.įor example if you have Bitcoin stored on Ledger Nano S and if it gets lost or damaged, then you can import the recovery seed into Trezor One or Ledger Nano X and recovery your coins. The 24 word mnemonic seed phrase is the master key for all your crypto. Your wallet just holds the key to access those cryptocurrencies. All of the coins and tokens remain on the respective blockchains. Technically your cryptocurrencies are not stored in your hardware wallet physical device. But unfortunately there are many cases of users who have lost access to their cryptocurrencies just because they failed to properly backup / protect the recovery seed. ![]() In fact protecting your wallet recovery seed is more important than your device itself. Moreover the order sequence is very important. So it is very essential that you write down recovery phrase in a piece of paper and store it offline. This 12, 18 or 24 word phrase generated by your wallet has all the information needed to completely recover your wallet. You’ll be asked to write down this backup phrase. It is called recovery seed, or backup phrase and it can be either 12, 18 or 24 words. When you are setting up Ledger, Trezor or any hardware wallet you’ll be provided with a random set of words. Also we’ll explain why it is not recommended nor it is secure to import a mnemonic seed into hardware wallets from software wallets.īut first let’s understand the importance of recovery phrase and when you’ll need it. Similarly we’ll see how to import electrum’s 12 word seed into Trezor and Ledger. Here in this guide we’ll explain how to import Ledger and Trezor mnemonic seed phrases into Electrum wallet. Anyone who is looking to recover their funds immediately from their lost / damaged hardware wallet can use electrum wallet. You can simply use any of these wallets, import the seed word generated by your hardware wallet and restore your funds.Īmong those wallets one of the popular software wallet is Electrum which is a free, light-weight and open-source Bitcoin wallet. ![]() Here is an article that has the complete list of BIP39 wallets. Other than the hardware wallets there are many software wallets that support the BIP39 mnemonic recovery seed phrases. Ledger, Trezor, Keepkey and most other hardware wallets uses the industry standard BIP39 for mnemonic seed generation. If you have the recovery seed phrase backup in place then you do not need to worry about the wallet being lost or broken. What happens to my Bitcoins if my Ledger wallet is lost? What happens if my Trezor wallet is broken? Does all of the coins stored in my wallet is lost forever? This is one common question among users who just bought a Ledger / Trezor and the ones who are planning to buy a new hardware wallet. This is mainly for users whose hardware wallet is lost, reset, stolen or damaged. Another guide for Ledger and Trezor users.
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